Luxury watches target new generation
The luxury watch industry is experiencing a slowdown due to changing preferences among young people with limited purchasing power, as companies seek bold innovations to attract the new generation. Switzerland's watch exports declined to 14.6 million watches last year, down from 25.4 million in 2016, with major brands protecting their sales by raising prices, while the mid-market segment faces greater pressures. Engaging with the tastes of Generation Z and Millennials and offering innovative experiences—such as the collaboration between Audemars Piguet and Swatch—are among the proposed solutions, amidst the challenge of convincing new generations to buy more watches under current market conditions.
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